As a new small construction business owner, you might not know that insurance is essential. Not only do you need the right contractor business insurance policy, but you also need the right coverage amount. The financial impact of negligence or error on your part can...
Running a business in the 21st century gets more challenging every day, and it is easy to become overwhelmed when expenses start piling up. Entrepreneurs are always busy ensuring their company excels at every level, despite any bumps in the road. However,...
Construction companies are aware that they must acquire Contractor Business Insurance to protect the interests of their business. A Swiss Re report states that the United States of America is the hub of uninsured businesses. It’ss not surprising that up to 40%...
The purpose of Contractor General Liability Insurance is to mitigate your financial risk. However, Coronavirus has highlighted risks that you may not have taken into account. The pandemic is unprecedented, bringing with it a realization of how vulnerable our...
Construction sites are some of the most dangerous places to work hence the need for bodily injury coverage for contractors. In 2018, for instance, out of 5,250 fatal occupational injuries in the US private industry, 1,008 were in construction. That is to say, one in...
Replacement Cost vs Actual Cash Value Actual cash value and replacement cost are the two main loss settlement options provided by insurance companies. “What is loss settlement?” you might ask. Well, loss settlement is how your insurance company decides the...
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